DISCLOSURE OF EFFECTIVE RATES OF INTEREST

TO OUR VALUED CLIENTS:

In compliance with Sec. X243 of the Manual of Regulations for Banks which mandates the Disclosure of
Effective Rates of Interest, here is our method for computing the interest on your deposits:

Type of Deposit: Savings

Nominal Rate of Interest: 0.15%
Manner of Interest Payment: Computed daily and credited Quarterly

Basis of Interest Payment: Accruals of End of Day Balances for period covered

Effective Annual Rate of Interest: Interest = Sum of Daily Accruals for period covered

= Sum of [EOD Balance x Interest Rate x Base Year*]

*Base Year = 1/365 for regular year and 1/366 for leap year

Illustration:

For this illustration, let us use the following account with deposits and withdrawals seen below:

DATE WITHDRAWAL DEPOSIT BALANCE

1/1/2016 3,000.00 3,000.00
1/2/2016 9,000.00 12,000.00
1/10/2016 5,000.00 7,000.00
1/15/2016 20,000.00 27,000.00
1/18/2016 7,000.00 20,000.00
1/30/2016 500.00 19,500.00
2/2/2016 30,000.00 49,500.00
2/15/2016 1,400.00 48,100.00
2/27/2016 1,000.00 49,100.00
3/4/2016 10,000.00 59,100.00
3/16/2016 400.00 58,700.00
3/29/2016 900.00 57,800.00

Here is the interest earned by the account:

DATE NO. OF DAYS BALANCE INTEREST EARNED WITHOLDING TAX NET INTEREST
1/1/2016 1 3,000.00 0.01 0.00 0.01
1/2/2016 to 1/9/2016 8 12,000.00 0.39 0.08 0.31
1/10/2016 to 1/14/2016 5 7,000.00 0.14 0.03 0.11
1/15/2016 to 1/17/2016 3 27,000.00 0.33 0.07 0.27
1/18/2016 to 1/29/2016 12 20,000.00 0.98 0.20 0.79
1/30/2016 to 2/1/2016 3 19,500.00 0.24 0.05 0.19
2/2/2016 to 2/14/2016 13 49,500.00 2.64 0.53 2.11
2/15/2016 to 2/26/2016 12 48,100.00 2.37 0.47 1.89
2/27/2016 to 3/3/2016 6 49,100.00 1.21 0.24 0.97
3/4/2016 to 3/15/2016 12 59,100.00 2.91 0.58 2.33
3/16/2016 to 3/28/2016 13 58,700.00 3.13 0.63 2.50
3/29/2016 to 3/31/2016 3 57,800.00 0.71 0.14 0.57
91 12.05
 DISCLOSURE OF EFFECTIVE RATES OF INTEREST
TO OUR VALUED CLIENTS:

In compliance with Sec. X243 of the Manual of Regulations for Banks which mandates the Disclosure of
Effective Rates of Interest, here is our method for computing the interest on your deposits:

Type of Deposit: Checking

Nominal Rate of Interest: 0.15%
Manner of Interest Payment: Computed daily and credited Monthly

Basis of Interest Payment: Accruals of End of Day Balances for period covered

Effective Annual Rate of Interest: Interest = Sum of Daily Accruals for period covered

= Sum of [EOD Balance x Interest Rate x Base Year*]

*Base Year = 1/365 for regular year and 1/366 for leap year

Illustration:

For this illustration, let us use the following account with deposits and withdrawals seen below:

DATE WITHDRAWAL DEPOSIT BALANCE

1-Apr-16 35,000.00 35,000.00
2-Apr-16 50,000.00 85,000.00
7-Apr-16 7,000.00 78,000.00
16-Apr-16 15,000.00 93,000.00
25-Apr-16 2,300.00 90,700.00
30-Apr-16 500.00 90,200.00

Here is the interest earned by the account:

DATE NO. OF DAYS BALANCE INTEREST EARNED WITHOLDING TAX NET INTEREST
4/1/2016 1 35,000.00 0.14 0.03 0.11
4/2/2016 to 4/6/2016 5 85,000.00 1.74 0.35 1.39
4/7/2016 to 4/15/2016 9 78,000.00 2.88 0.58 2.30
4/16/2016 to 4/24/2016 9 93,000.00 3.43 0.69 2.74
4/25/2016 to 4/29/2016 5 90,700.00 1.86 0.37 1.49
4/30/2016 1 90,200.00 0.37 0.07 0.30
30 8.34
 DISCLOSURE OF EFFECTIVE RATES OF INTEREST
TO OUR VALUED CLIENTS:

In compliance with Sec. X243 of the Manual of Regulations for Banks which mandates the Disclosure of
Effective Rates of Interest, here is our method for computing the interest on your deposits:

Type of Deposit: Time Deposit

Nominal Rate of Interest: 1.375%
Manner of Interest Payment: Upon Maturity

Basis of Interest Payment: Principal Amount

Effective Annual Rate of Interest: Interest = Principal x Interest Rate x Base Year*

* Base Year = 1/365 for regular year and 1/366 for leap year

Illustration:

Principal Amount: P1,000,000

Term: 1 year

Computation of Interest: P1,000,000 x 1.375% x 365 / 365 = P13,750 (Gross Interest)

Subject to 20% withholding tax = Net Interest will be P11,000